Hi Luisa:**Off Topic**
A tough question..but I'll give you a BRIEF synopsis.
It depends who you talk to, but anytime a person goes to one of these conferences there's a certain amount of hype: Something like going to a store and enquiring about a particular "product" - they're always going to give you a good selling job. Having said that, generally, people sounded to be quite bullish on gold and all base metals (particularily silver). The reason? Things have bottomed out and with current economic situations outside of North America, a "bull" gold market is about to take place. As a result, resource companies will prosper. As mentioned above, silver was very bullish...and silver and gold are supposed to move together. Currently, gold is moving opposite to silver (except for Friday), and this is going to change: they will be moving upward together quite soon.
I thought James Dines and Eric Coffin (Hard Rock Analyst)were the best speakers. They were quick 30 minute speechs (time constraints) but very comprehensive.
Producing gold companies are something to stay away from for the next month or so because four quarter results will be out - and they won't be good (write downs, mine closures, etc.). AFTER the results are out, then wait about a week, then buy in. You will be rewarded nicely if you hold a while.
Exploration companies with good properties(not in production)with cash to use could be a good play...but maybe quite not yet. Perhaps a month or so. Generally, the feeling is that these stocks that have fallen from $5 to 25 pennies (that haven't changed fundamentally) may move back up very quickly.
Exploration companies with decent prospects but no cash...well, it may be a while. :-)
Sorry that this isn't very scientific, but suffice to say there were a lot of gold bugs chattering away in Vancouver. Mainly, though, '98 could be a very good year for resource stocks.
Hope this is slightly helpful...
Regards,
Wats
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